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Fisdom, a Bangalore-based personal finance startup, has raised about $500K (INR 3.4 Cr) from angel investors, including Raghunandan G and Aprameya Radhakrishna (Taxiforsure co-founders) and Sumit Jain (Commonfloor co-founder).
Other investors that participated in the round were Rob Chandra (CEO, Avid Park Capital), Wooqer’s Vishal Purohit and other Finance sector biggies like Rajeev Chitrabhanu (JM Financial CEO) and Macquarie’s Gaurav Gupta, among others.
The funding will be used to build new products and expand its team.
Founded in 2015 by Subramanya S.V., Ramganesh Iyer and Anand Dalmia, Fisdom is an automated investment service provider that manages a personalised online investment account for its customers. It also provides personalised investment recommendations.
Subramanya said, “The idea is to provide wealth management to those earning between Rs 5 lakh to Rs 50 lakh, who don’t have access to professional advice on where to investment their money.”
The company currently invests in mutual funds and plans to add other options like bonds etc. in future. The startup plans to monetise by charging commission from financial services companies and mutual funds. Fisdom is targeting to bring over 5,000 customers on-board by the end of 2016. Fisdom also has an Android app and soon plans to launch an iOS app.
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The post FinTech Startup, Fisdom, Raises $500K From TaxiForSure & Commonfloor Co-Founders appeared first on Inc42 Magazine.
